Self-Sealing Tire Market | How Top Companies are Strengthening Its Business during the COVID-19 Pandemic

With technological advancements in the automotive sector, customer focus has been shifted toward more advanced safety features in vehicles. Automakers and tire manufacturers are paying high attention on tires because it has a big influence on driving safety. Self-sealing tires is one such innovation which has the ability to drive safely even when a piercing object enters through the tire. The tires contain an inner layer of sealant material along the tread. If a nail or other foreign object punctures the tire, the sealant layer immediately fills the void to prevent the air from escaping, and the tire stays inflated.

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COVID-19 scenario analysis:

• With COVID-19 bringing the automotive production to halt, the tire industry is anticipated to face a loss in capital generation.
• Re-starting manufacturing would take time and would take a long duration to stabilize the market disturbed due the pandemic.
• Besides, the stoppage of production has led to accumulation of raw materials, semi-finished goods and finished goods.
• Additionally, till the lockdown imposed by the government continues, the trade of natural rubber is at a standstill.
• Moreover, due to shortage of natural rubber due to disrupted supply chain, the demand for would rise and prices could further increase, thereby hampering self-sealing tire market.

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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

The demand for self-sealing tires is anticipated to catalyze with rise in sales for vehicles. Moreover, the rising safety demand from consumers is fueling the market growth. Besides, self-sealing don’t require a specialized rim, or special equipment to mount them. Additionally, self-sealing tires saves time required to repair the immediate puncture, thereby propelling the market growth. However, the cost of self-sealing tires being higher than conventional tires is hampering the market growth. Furthermore, ability of self-sealing tires to handle larger punctures and keeping the vehicle more stable even when the air is lost, is proliferating the market.

Ecofriendly self-sealing tires to flourish the market
Ever since the introduction of self-sealing tires in automotive industry, the daily commuters are adopting self-sealing tires as it saves the time of puncture. Moreover, the automakers are constantly focusing on development of the tires considering its rising demand. Likewise, the development of ecofriendly self-sealing tires has accelerated as it delivers measurable benefits for the environment. In 2019, Ford unveiled its Ford Explorer with self-sealing tires from Michelin. Besides, the tires are environmentally-friendly as it utilizes natural rubber sealant that has no rolling resistance and maintains all other tire performances.

Rising aftermarket sales of self-sealing tires propelling the market growth
The self-sealing tires offers a wide range of benefits. Besides, self-sealing tires eliminates the requirement of special equipment for mounting. Although, fitment of tire pressure monitoring system warns the driver of gradual pressure loss in self-sealing tires,it could be installed in vehicles that aren’t equipped with tire pressure monitoring system. Owing to these factors, the aftermarket sales are sky-rocketing. For instance, in 2019, Continental achieved the milestone of producing 15 million self-sealing tires.

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Key benefits of the report:

• This study presents the analytical depiction of the Self-Sealing Tireindustry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Self-Sealing Tire market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the self-sealing tire market research report:

• Which are the leading market players active in the self-sealing tire market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

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